| Gibson's Repair - 618-656-3733 HVAC replacements that qualify for tax credits |
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The Story:
Stimulus Package Includes Major HVAC Tax Credit:
On February 17, 2009, President Obama signed
into law "H.R. 1, the American Recovery and
Reinvestment Act of 2009." This act has significant
impact on the residential HVAC Tax Credits that the
industry has been aiming at in 2009.
• New Tax Credit Efficiency Requirements. The new
law changes the HVAC tax credit efficiency
requirements for Split System Air Conditioners,
Split System Heat Pumps, and Packaged Heat
Pumps. Refer to summary table below.
• New Tax Credit Dollar Values. The dollar value of
the tax credits has changed significantly. Instead of
fixed dollar values ($300, $150, $50), the credit is
now defined as 30% of the installed cost of
qualifying equipment, up to $1500 maximum over
both years 2009 and 2010.
• New Dates. The new credits are available for
qualifying products that are “placed in service”
between January 1, 2009 and December 31, 2010.
Summary (as compared to previous tax credit):
♦ Higher Tax Credit. The tax credit has increased
from specific dollar amounts--$300, $150, $50--to
30% of installed cost of qualifying equipment with a
maximum credit of $1,500.
Gibson's Repair is here to help!!
Not all companies are willing to work to provide the
paperwork required by the IRS to receive this
incentive. We are. If we can make it work, we will.
If not, an up-front and honest evaluation will be
given. This perk has already helped our customers
- why not let it work for you?
Stimulus Package Includes Major HVAC Tax Credit:
On February 17, 2009, President Obama signed
into law "H.R. 1, the American Recovery and
Reinvestment Act of 2009." This act has significant
impact on the residential HVAC Tax Credits that the
industry has been aiming at in 2009.
• New Tax Credit Efficiency Requirements. The new
law changes the HVAC tax credit efficiency
requirements for Split System Air Conditioners,
Split System Heat Pumps, and Packaged Heat
Pumps. Refer to summary table below.
• New Tax Credit Dollar Values. The dollar value of
the tax credits has changed significantly. Instead of
fixed dollar values ($300, $150, $50), the credit is
now defined as 30% of the installed cost of
qualifying equipment, up to $1500 maximum over
both years 2009 and 2010.
• New Dates. The new credits are available for
qualifying products that are “placed in service”
between January 1, 2009 and December 31, 2010.
Summary (as compared to previous tax credit):
♦ Higher Tax Credit. The tax credit has increased
from specific dollar amounts--$300, $150, $50--to
30% of installed cost of qualifying equipment with a
maximum credit of $1,500.
Gibson's Repair is here to help!!
Not all companies are willing to work to provide the
paperwork required by the IRS to receive this
incentive. We are. If we can make it work, we will.
If not, an up-front and honest evaluation will be
given. This perk has already helped our customers
- why not let it work for you?
